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Foreign exchange becoming less attractive to Romanian bank depositors

Per capita ratio of loans taken out by Romanians was standing at RON 3,789.73 (1,038 euros) as of end-April, while the per capita bank deposit ratio was standing at RON 3,545.39 (971.33 euros).

The ratio of loans to deposits for individuals and corporate customers was 1.25 in May, up from 1.17 in April, as a result of a slow down in loans and deposits, particularly those forex denominated, according to data with the National Bank of Romania (BNR). The May ratio in the case of individuals was balanced, at 1.07, but May witnessed a lower appetite for forex deposits. BNR Governor Mugur Isarescu warns that the development of consumer credit is excessively high and becoming risky to the banks and microeconomics as well. The lowest credit-to-savings ratio was recorded in Bucharest City (0.76), followed by Mures County (0.82). At the opposite end, Mehedinti County displays a high appetite for loans to the detriment of savings, running the largest savings shortage, with a credit-to-savings ratio of 2.70. Bankers are expecting a slowdown in crediting in 2008 as a result of rising funding costs that are reflected in interest rates and commission fees charged on loan applicants. Indebtedness is highest in Bucharest City, where the values of loans taken out by individual and corporate clients was standing at RON 59.07 billion (16.18 billion euros) as of end-April, up 68.48 percent year-on-year. The growth rate of RON and forex deposits opened by Romanian individuals and corporations sped up to 41.51 percent in April, year-on-year, compared with 38.09 percent in March. Savings in the local currency, the leu (RON), made up 65 percent of the total bank deposits opened by Romanian individual and corporations in May. Sursa: http://www.rompress.ro

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